Section 144C Requires Draft Assessment Order Even After ITAT Remand in Transfer Pricing Cases

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....The HC held that a remand by the ITAT to the AO/TPO for fresh consideration of transfer pricing issues does not obviate the mandatory requirement under Section 144C of the Act to issue a draft assessment order. The AO must forward the draft assessment order to the assessee, allowing them to accept or object to any prejudicial variations before finalizing the assessment. Failure to comply with this procedural mandate renders the assessment order invalid and vitiated by incurable illegality, not merely a procedural irregularity. Consequently, the writ petition was allowed, reaffirming that the procedure under Section 144C is indispensable even on remand.....